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This study examines the association between working capital management efficiency and corporate performance using a sample of manufacturing firms listed in the Amman Stock Exchange (ASE). The study employed accounting-based measures of corporate performance (ROA & ROE) and market-based performance measures (stock return). In addition, the study considered conventional liquidity indicators (Current ratio & quick ratio), as well as, the widely used comprehensive measure of working capital management efficiency, the cash conversion cycle (CCC). Correlations and multiple regression analysis are used to test the study's predictions. Consistent with most prior related studies, findings indicate that CCC is significantly and inversely related to both profitability measures (ROA & ROE). Results suggest that firms with shorter CCC tend to be more profitable than other firms. However, empirical findings did not support a significant association between CCC stock return. The study's findings can be helpful for investors, creditors and managers guide financial decisions on working capital management.